Incomes for Canada's richest 1% rose nearly 10% in 2021, tax filings show
CBC
The richest people in Canada got a lot richer in 2021, even as the poorest half of all tax filers saw their incomes decline by $1,400.
That's one of the main takeaways of a new data analysis released by Statistics Canada on Friday looking at tax filings from 2021 and comparing them with the previous year.
According to the data agency, incomes of the top 1 per cent of all tax filers in Canada rose by 9.4 per cent to $579,100 in 2021.
That figure includes all forms of taxable income, from salary and bonuses to things like capital gains, dividends and other payments that were registered with tax authorities.
The 10 per cent pay bump for the top 1 per cent contrasts with incomes moving in the opposite direction for many other Canadians.
The report did not provide detailed data about income levels for the top 49 per cent, or the average Canadian, just those in the bottom half and the very top.
While the 1 per cent got an almost 10 per cent pay bump, the tiny group of people above them fared better still. "Filers in the top 0.1 per cent saw their average total income increase by 17.4 per cent to $2,086,100, while those in the top 0.01 per cent saw their average total income increase 25.7 per cent to $7,731,400."
Taken together, the figures released Friday show that the share of income taken in by the richest 1 per cent of Canadians got even more top-heavy during the years in question.
If there was a sector of society where income distribution got more equitable during the year, it would be the balance between men and women within the 1 per cent.
"Overall, women composed 26.1 per cent of the top 1 per cent of income tax filers, up from 25.4 per cent in 2020," the data agency reported. "The share of women in the top 1 per cent has been increasing steadily since this series started in 1982, when the share was 11.4 per cent."
CBC Newfoundland and Labrador is kicking off its annual holiday campaign, helping to raise money to support local food banks.
If all goes according to plan, at 6 a.m. AT on Saturday people working at the IWK Health Centre will become the test case for a generational change to Nova Scotia’s health-care system.
One month after Prime Minister Mark Carney announced what he called "generational" military spending, New Brunswick’s defence ecosystem is on high alert.
Miranda Mirlycourtois, 34, looks directly at the camera and makes a confession.
Saskatoon city hall says police spending is projected to be $2.6 million over budget this year. That pushes the city into a $1.2-million deficit position, according to a report that will be considered by city council next week.
Students at the University of Regina are days away from deciding whether a newly formed student association should become their official representative body.
All public schools on P.E.I. are closed Friday and thousands of Maritime Electric customers are without power as strong winds create hazardous travel conditions across the province.
Prince Rupert, B.C., residents are celebrating the holidays this year with coastal flair.
In the four years Chelsey Simmonds has worked at the Eva Rothwell Centre, she has seen the need increase every year at the centre’s community food pantry.
CBC is once again looking to make the holiday season kind in Windsor-Essex.
Acute Care Alberta has extended its contract for another year with a private surgical facility at the centre of probes into health procurement and contracting.
As food bank use continues to climb across the province, front-line workers in Thunder Bay, Ont., are working to improve both food security and education.
More ads could soon be coming to Toronto’s subway system.